United States Education

Leifras (NASDAQ:LFS) said it entered a memorandum of understanding on Dec. 26 with Tachibana Gakuen and Matsumoto to launch a collaborative initiative aimed at addressing school refusal among students in Japan.

Under the agreement, Leifras will contribute its sports education and youth-development expertise, while Tachibana Gakuen will oversee school management and provide direct student support.

The wealthy New Jersey town of Montclair is making staff and program cuts at its public schools in an effort to address a $20 million budget gap. The commuter town discovered the deficit in July, with a judge recently swatting down a vote aimed at raising property taxes to mitigate the problem. Bloomberg's Erin Hudson talked about the story on "Bloomberg Markets" with Dani Burger.